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to start all over. >> eva rowe's parents were among the 15 who died that day in texas city. it was the worst workplace accident in this country in 16 years. >> these things do not have to happen. they are preventable. they're predictable, and people do not have to die because they're earning a living. >> welcome to 60 minutes on cnbc. i'm leslie stahl. oil is the engine that drives our economy. and as oil becomes scarcer, the push to discover and develop new sources becomes increasingly dangerous. this edition examines two recent disasters in the oil industry with a great deal in common: the deepwater horizon rig in the gulf of mexico and the refinery at texas city, which suffered explosions five years apart. they were both operated by bp. and in both cases, 60 minutes looked at whether bp's cost saving measures may have had deadly consequences. first we'll look at the biggest off shore oil spill in history, the blowout of the deepwater horizon drilling rig in 2010. critical revelations in the disaster have come from one of the last crewmen to escape the rig, mike williams,
're facing? >>> and how one major city wants to put those old phone booths back to work. and how hi-tech can make a big city run smoother. "on the money" begins right now. >> here's a look at what's making news as we head into a new week on the money. the feds spoke, the markets shoot. the federal reserve releasing minutes this week, it's considering a slowdown of the bond buying plm before it hits the target of 6.5% unemployment. members were concerned about the possibility of inflation and of expanding its balance sheet even further. the markets did not like that at all. index is having one of the worst days of the year on wednesday. the markets rebounded later in the week. office depot and officemax will be walking down the merger aisle. announcing an all-stock merger to create a company worth one and a quarter billion dollars. they will close underperforming stores. some important companies are still reporting earnings. dell beat analyst expectations as it hewlett-packard and walmart. aig came in ahead as well. gas prices are at a four-month high. trilel a reporting national prices have
mayor ed koch. the mayor who helped america's biggest city make a big comeback from bankruptcy and a very bad image. we're going to talk with some people who really knew him and his legacy in just a few moments. but first up, sundaying super bowl will be the first in new orleans since hurricane katrina. brian schactman is live in new orleans tonight. good evening, brian. >> hi, larry. you know, the mercedes-benz superdome right over my shoulder seven years ago was in absolute tatters. now it has mercedes-benz as a sponsor with a $100 million ten-year deal, and it's absolutely beautiful. the city has been transformed since katrina in '05, and of course the bp spill in 2010. they spent about 300 million upgrading the superdome. another 300 million upgrading the airport. and another 400 million on various other projects in the city. i've been down there about four times in the last four years, larry. the city has never looked better. and also on a jobs day i do want to note the unemployment rate in the city of new orleans right now is under 5%. so if anything could say they came b
to throw atlantic city a life line and collect some revenue sos they can cut tax rates across the board for everybody. this is "the kudlow report" and we begin right now. >>> before we jump in let me give you my continuing optimistic view of this market. yes the fed remains easy. that's huge. you know what else? the there are is strong. no interests in gold. good numbers on homes sales, consumer confidence and core capital goods. profits are rising modestly and finally my contrary view that the budget cutting sequester which will limit government is pro growth for the economy and winds up being pro wealth creation for stocks. i think the sequester is part of the market's rally and that sequester is only two days way. the markets know all about it. so i'm still playing this from the optimistic side. let us get into focus on that very sequester. cnbc contributor robert costa joins us live from washington. he has the latest news on the sequester. there's some weird stuff going on out there. help me. first of all, a sequester is due on friday whenever the president signs it or whatever and
, 1666. okay. . and global news, average home prices in china's 100 biggest cities was 1% in january from december. and it marks the eighth consecutive marketing rise. two other surveys show growth was weak and the economists caution the country could set a tradeback if trade or government weaken. >> we're here for a lot of reasons, but one thing we need to talk about for an advertising, guys, is there anything better to tuz on than the super bowl? >> no. and it's gotten more important. ite become the academy awards of advertising. first of all, viewership is up. about 111 million people will watch it. crisis is up more than 7%. >> more people watch the laugh time or the gain 12347. >> yes. >> i always thought that was when everybody went to the bathroom. >>. >> you go to the kitchen, you get a drink, you do all sorts of things during halftime. >> $3.75 million for a 30-second spot. people have paid over $4 million. price of ads is up 60% over the last decade. they're also sold out almost a half a billion dollars of ads spend for this super bowl. there will be about 78 advertisers. and i
a big move. >> lastly, citi goes buy to hold bhp. >> people ask me what i'm worried become it is the endless pressure in the my earth and the materials. free port yesterday, 32. bhp, looks like -- these are rolling ever. the junior gold minors are horrendous. joint global up yesterday on rumors. why are these going down so hard? >> you think god is overdone? >> i like gold az as an allocation, a currency. these miners, they are the weakest, they are terrible. terrible stocks. ran gold, a well run company. >> going back to late 11. >> the euro, by the way, looks -- versus the dollar, the euro really come down. something to watch with the metals, rio tinto a fine company, bhp a fine company. rolling over that is worrisome. i don't think they are done rolling over. >>> home builders falling sharply last few days. an analyst says there is another sector you can play to make money off of housing, the opening bell on a thursday is just minutes away. recognize me. but i am your market data. i know what you're looking for. i'm not chained to your desk anymore. i'm faster and smarte
cancelled. two feet of snow expected in some areas. mostly to the north of new york city. the latest on the storm path and at which sectors will be impacted the most. >>> first on cnbc, mattel meeting analyst. toy maker ceo will speak with us first on "power lunch" before he spokes with the street -- guess who's here? >> good to see you, ty. >> nice to see you. >> mother nature -- >> here at snowy cnbc headquarters. >> mother nature derailed my commute. but at least we are together in the snowy weather. >> that's right. barbie and ken of -- >> that's right. barbie and ken of "power lunch." first to the markets, we will put the storm aside for a couple of second. with today's gains, major averages wiped out losses for the week. that could of course change but if it does hold the s&p 500, the dow and nasdaq will have racked up gains in each of the first six weeks of 2013. bob pisani is down on the floor of the nyse. he did manage to get to the new york stock exchange exchange today. >> let me be blunt about it, sue, everybody at the new york stock exchange wants to go home. but they're
into or out of mid way or o'hare today, amongst many other western cities, look out. and speaking of midwestern cities, midwest is where we find our powerhouses this week. each week we fek us on a top 20 real estate market and talk to a real estate agent there to see what he is selling for and what they are asking. this week, to cleveland we go. michelle anderson is a real estate age went progressive urban real estate in cleveland. michelle, welcome. tell me a little bit about the cleveland market. 3600 properties sold, how brisk or slow is it these days? >> the market in cleveland is picking up. things are looking better than a few years ago. we have active buyers in the market. sellers with good property priced right. they should be very happy with this market. should find a buyer within four to six months. >> average price is about $171,000 there. why don't you take us to the first home on your list this week. and it is a bargain price, sort after starter home, in the 139 or $140,000 area. >> right. 5004 bridge avenue listed by jeremy olves. nice two bedroom, two bath home. thi
that might hit particular cities or regions and a new defense secretary. >> you know, it is interesting. of course a lot of that is simply by events. obama didn't seem it make that much of an anti-defense move in its first term. it was accompanied by the afghanistan surge. so there was just so much he could do. but right now, you have definitely got a move towards, if not isolation, definitely a move from intervention, appointment of secretary hague el as you point out, is definitely endorsement of that. even within that, within the republican party, there is a danger that they are focused on, moving toward budget talks rather than defense and foreign policy talks. so it is tough to see who carry theory the mantle for defense. >> thank you richard. richard aboulafia from the teal group. >> on the back of its earnings and what a miss, stock down 75% over the past one year. so where does the on-line deals site go from here? and as we head out, let's look at financials. there they are. all higher. not so much, but higher. we are back in two minutes. ♪ [ male announcer ] to hold a patent
in the role. dimon says this is due to inadequate oversight with the london whale trade. this is new york city pension plans. holds about $820 million over just less than 1% in jpm shares. new york city comptroller john liu says, j.p. morgan would be unable to instill confidence. as lead independent director, meeting with the board with jamie dimon on certain matters. they are neither for or against splitting. it depends on the company's leadership at the time. since proposals are just proposals, they don't create real need for the company to address them. it was on jpo morgan's proks proxy last year. they saw 41% of shareholders support it. gmi ratings says what that number did is signal no confidence saying quote if 30% of your customers were unhappy, would you take that seriously. normally splitting the role is best for j.p. morgan quote is now believed to generate more profit than any bank in the world. i'm not sure how much an independent share person can. it is not sure what is believed best for them at this point. >> let's go to michelle at nyse. >> well talk with lisa lindsay, from the
professional life. he'll also talk a little bit of time at citi. that's been controversial, as you guys have pointed out. the question to a lot of lawmakers is, what exactly did jack lew while he worked at citi for the money he collected. he'll describe himself as a changed agent inside citi. he doesn't mention at all in the prepared remarks anything about this fund that he invested in, that was based in the cayman islands. that's likely to be controversial. we're likely to hear several questions about that one. david, the prepared testimony is one thing, but when then get to the q&a, they'll bear down on what jack lew has to say. carl. >> eamon, there's some discussion how his grilling might be a little bit light, only because republicans haven't really coalesced around a whole lot of opposition. >> yeah, i think the consensus is, they might bang him up a little bit in the hearing. but the expectation is he'll get through and the president will get his man. jack lew has been scrutinized in the past for a variety of jobs. he's a well-known figure here in washington. a lot of republicans don'
turbines are now powering some of america's biggest cities. siemens. answers. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> where will it end, and is it coming to your city? supersized sodas are outlaws in new york thanks to mayor mike bloomberg, and now he's got another ban in his sight. courtney reagan has the details. >> environmentalists are rejoicing but restauranteurs may not be. in his 12th and final state of the city address new york city mayor michael bloomberg is proposing a citywide ban of plastic foam containers. >> styrofoam increases the cost of recycling by as much as $20 per ton because it has to be removed. something we know that's environmentally destructive, costing taxpayers money and that is easily replaceable. we'll work to adopt a law banning styrofoam food packaging from our stor
cities. siemens. answers. [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. (music throughout) why turbo? trust us. it's just better to be in front. the sonata turbo. from hyundai. >>> forget washington's fiscal woes. our next guest says that there's a new risk to the country's economic health, and it all has to do with the fed's balance sheet and the low rate policy it's had for a number of years now >> indeed. he's columbia university's rich mishkin. >> welcome back. >> lots of focus today on the fed minutes that came out earlier on today. what was your read on the fed? i mean, the market is taking them as hawkish. is that the correct way to read it? >> i think that there's some concerns that have been raised in both the minutes and actually we've seen in recent speeches which are a little bit more hawkish. there are
, and that in other countries, cyber attacks have plunged entire cities into darkness. >> president obama didn't say which country had been plunged into darkness by computer hackers, but we found out. it was brazil. we also found out that hackers have been infiltrating everything from our defense networks to the financial systems. bank robbers are now stealing more money with computers than they are with guns. >> this map is showing a visual representation of where all of the known infections of conficker are across the world. >> computer analysts say it's like a sleeper cell, and it may be poised to suck sensitive data out of millions and millions of computers. >> it takes time to read the manuals. i'm gonna save you that time. 'cause i stay home on saturday nights and read them for you. >> you and the rest of the geeks? >> there's millions of us out there. >> everybody, let's hear it! geek squad! [cheering] >> welcome to 60 minutes on cnbc. i'm steve kroft. in this edition, we take a look at technology. we examine how breaches in digital security threaten everything from weapons systems to bank ac
prices in seven major chinese cities row rose an average tr a year earlier. that's much higher than expected and it's the first time prices rose across the board after ten straight months of decline. >> the layest property data comes at a time when they might tighten policy. home prices across china gained on month .on year continuing the defy government efforts to cool this market. beijing has led a crackdown on home prices for the last three years. but chinese real estate has been showing signs of a revival since the middle of last year. investors struggled to digest the data. it seemed like they were trying to figure out whether the data had hit a sweet spot. was it a big enough contain or was et small enough to pass under bay ying's radar, yet still confirm signs of a recovery? in any case, the property market is essential to china's overall economic recovery making up more than 10% of gdp. it's a sector that investors and we will continue to monitor closely. back to you guys. >> and on that note, we are learning from hong kong the government has unveiled fresh measurer to cool
'm not that crazy about. solar city i have to do work on. you know, it was my birthday recently. my kids said happy birthday, you got to get a solar panel. it's like solar city, like circuit -- i don't want to do that, but how about party city? that's not there, either. but i will tell you that i think the solar city is on to something. if you can get money to put a solar panel on and cut my electric bill, you would be plenty happy. matt in texas, matt? >> hi, jim. boo-yah from austin. >> man, austin, we had such a great time when we were in austin, at u.t. it was fantastic. what's up? >> caller: hey, i'm a longtime shareholder of unh. despite, due to medicare, is a small book of business, which is down over 6%. do you think you have growth strategy, and in particular international expansion or enough to offset obamacare? >> no, no, these stocks open down and down big. you get this medicare advantage, and they're going to cut it by that much, the stocks will be for sale. there's so many others, take the money out, buy cardinal health. you know, that's what's going to happen. anyway, some might be t
vary from city to city, county to county. if we could have a national blend or two, that would, you know, bring a lot of this -- >> call the dogs off -- call these dogs off. these regulatory dogs. >> well, before we get too excited, it seems to me that -- whether or not there's too many regulations, i don't think there's been a change in the regulatory environment that these refineries have been operating under. that is, you'd have to show me there's been a lot more. have there been a lot more regulations leading to refineries? >> the biggest changes go back to the clinton administration, the new source rules. if you did anything substantial in a refinery, it would have to comply with the new standards. >> since then, the prices have come way down and -- >> absolutely. and some of the big refineries that supply the oeast coast, larry, have been in the caribbean, not here. >> i always used the rule of thumb that eventually gasoline prices will follow crude oil prices. i still think that rule of thumb is applicable. what is going to happen here? >> well, at some point, they are making
. the market declared brick and mortar stores dead. what's the other store. circuit city went out of business. there's only a few left. people are tactile to a certainly degree and i think people are going to like brick and mortar and stop from shoe rooming. i think best buy a decent buy, stop at 15. >> that sounds interesting. let's move to rchl bc capital, upgrading mgm to outperform to sect or perform, increasing the target to $16. rbc seeing catalyst to unlock further equity including expectations of dividend from mgm china. they think mgm can regain it's new license. shares up there over 21%. what do you think, jim? >> when i look at it, i think the reasons they picked out were good. the china dividend and gaming license, that's good. when i look at a stock that had a 50% rally, 48% since mid november, i start to think people are not going to buy, rally so much. to me looks like the chart could go lower by a buck. >> thank you so much. had a little audio hit. one of the biggest stories, influential man on wall street, michelle will tell you about. >> absolutely. on wall street fighting i
threatening situation. already, national weather service posted blizzard warnings from new york city to hartford, boston, up to portland, maine. this is going to be a big storm. it is starting off as two storms. one to the north, one to the south here. they're going to come together, one with the cold air, one with a lot of moisture and develop, really get cranking during the day, into the evening on friday, this is how it plays out. not quite together yet and then in the evening, things are really going to go downhill. heavy snow, this does include new york city, 95 to boston. the storm now as one overnight friday into saturday. and it's still going to be hanging in there saturday evening for parts of new england. when it's all said and done, so than two feet of snow. and it's possible new york city and long island, foot, maria, maybe a foot and a half. >> all right, chris. thank you so much. we have to gear up for that. appreciate that. my thoughts on a potential trouble spot for the markets. that's next in observation. stay with us. with fidelity's new options platform, we've comp
, even new york city now with blizzard warnings, expecting 12 to 18 inches there. this is going to be a blockbuster storm. the big question is can we get everybody off the roads in time? that's what the desire is hout . the government says, look, i want all unnecessary vehicles off the road by noon tomorrow. so if we have a scene like you see behind me here, larry, where i-93 is backlogged at this time tomorrow night, we're going to have a disaster on our hands. that means some of these people are going to be spend being the night in their cars riding out the storm. 35 years ago the famous blizzard of '78 it was rush hour and people got trapped in their cars. if they are in their cars this time, the same thing will happen. history will repeat itself. we will also have hurricane force gusts along the coastline. some of these areas that were weakened by sandy will be very, very vulnerable certainly to the storm surge and the wave action that will happen with this huge nor'easter. we expect to measure this one with a yard stick, larry, two to three feet expected here in boston. >>
of resources. when you need a lot of resources to move all those 400,000 people to the city. >> a couple of headlines from the new york stock exchange. regarding winter storm, they say they do expect business as usual. this is according to a spokesperson. keeping member firms and traders informed of the weather reports. remember, we had some issues during sandy, obviously, where the exchange had to work mightily to open. it says it has contingency plans in effect. the surge they're talking here in new york is three to five feet. sandy was 13 feet. >> far different. >> ostensibly under a lot less pressure, but you never know what the storm's going to bring. >> up in the boston area, i believe it could be more significant. and again, with the high tides, highest tide of the month, what time will the surge be. i know there's a lot of focus on that. >> people should listen to the safety. >> watching shares of linkedin today. all new-time highs. blowing past expectations with its earnings. revenues up 81%. mostly coming from linkedin's recruitment services. stocks up almost 80% in the last 12
outside new york city and our cnbc headquarters. it is bad and it's getting worse. the big worry now, power outages. believe it or not, there were gas lines last night. >> and a different kind of storm brewing in washington over the automatic cuts known as sequestration. today the white house came out with a forecast on what would happen if they do kick in, and it makes the nor'easter look like a snow flurry. we'll separate fact from fiction on that later. stay with us. ♪ let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ oh this is lame, investors could lose tens of thousands of dollars on their 401(k) to hidden fees. is that what you're looking for, like a hidden fee in your giant mom bag? maybe i have them... oh that's right i don't because i rolled my account over to e-trade where... woah. okay... they don't have hidden fees... hey fern. the junk drawer? why would they... is that my gerbil? you said he moved to a tiny farm. that's it, i'm running away. no, no you can't c
's filled with allegedly blue chips names. funny, how being blue chip didn't help citi or general motors when they went under. and the professionals who give you the advice presume that home gamers like you are brain dead. that you're incapable of analyzing the prospects of publicly traded companies on your own. they don't think you can pick your own stocks. something that they could -- they think you wouldn't even pick your own nose. i mean, they're totally, totally contemptuous of you. so they assume you'll do less damage to your wealth if you only play around in big household names and stay away from speculative stocks that you never heard of. believe me off the desk, go out for a cocktail, have dinner, here's what they say. well, first of all, they think that most of you don't know the difference between a stock and a bond. that's the smug conventional wisdom on wall street and among the intelligentsia. but as a grizzled veteran, i have been around, i put my first -- i bought my first stock in 1998, i've been around. i'm telling you that their view is totally bonus. these pros who di
some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> it is time for final trade time. pete, kick us off. >> bank of america ready to break out and get towards 13. >> mtw, construction trade, i ththe going to continue to move. >> steve weiss. >> qualcomm, running a sale, time to get it if you don't own it. >> that does it for us live goldman tech conference in san francisco. "power lunch" starts now. >> hello. welcome to "power lunch." michelle caruso-cabrera. in for sue and tyler. apple ceo tim cook making big headlines. the fight with hedge fund manager david einhorn and cannibalization of the company's product. more on that fallout. >> also mead china factor, las vegas rolling out red carpet for chinese new year tourist, which casino stock stands to win big. >> "sports illustrated" swimsuit edition hits news stands today. i bet you already knew that. supermodel kate upton on the cover for the second year running. she's going to join us live here on "power lunch." we don't want to miss that. >> in the meantime,
is on that frightening case. jane? >> hey, tyler. even when you're nickname is sin city, murder can be bad for business. is las vegas suffering at all from a high profile triple murder? we'll have that after the break. t that has changed the modern world... would define you as an innovator. to hold more than one patent of this caliber... would define you as a true leader. ♪ to hold over 80,000... well that would make you... the creators of the 2013 mercedes-benz e-class... quite possibly the most advanced luxury sedan ever. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. through mercedes-benz i've always kept my eye on her... but with so much health care noise, i didn't always watch out for myself. with unitedhealthcare, i get personalized information and rewards for addressing my health risks. but she's still going to give me a heart attack. that's health in numbers. unitedhealthcare. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the ais
. chrw. a lot of buying of may 60 calls. >> stock correcting more than 10%. bought citi yesterday and more this morning. >> tesla. among the june 40 calls, unfairly beaten up. >> tweet me. that does it for us. can you see more "fast" at 5:00 tonight. big snap back. dow marching towards all time closing highs. right now up 130 points and "power" starts now. >> it is 1:00 in the east. welcome, everybody. on wall street we have several breaking stories to tell you about. big news on apple and price line today. apple's shareholder's meeting and a day after a big report on priceline. we have that company's ceo. let's look at apple shares for the upday on the market. we will delve deeply into apple in just a moment. meantime, priceline, let's take a look that one. sort of the massive performance over the last few years at $698 even. it is higher by 19.51 at this instance. sue is at the new york stock exchange. hi, sue. >> hi, ty. we have a strong market day today. markets are popping on very solid economic news. durable goods numbers and good earnings. and of course ben bernanke's reaff
, it was for a story about the harlem children's zone, an inner-city education program run by a remarkable man named geoffrey canada... >> good morning, boys and girls. >> and considered one of the most ambitious social experiments to alleviate poverty in our lifetime. >> if you work hard... >> but back then, there was no way to tell if the experiment was working. today the results are in, and they're nothing short of stunning. just ask richar anozier. do you know what college you want to go to? >> stanford. >> what do you want to do after stanford? >> i would like to earn my way to being a ceo. >> welcome to 60 minutes on cnbc. i'm bob simon. in this edition, we look at three groundbreaking approaches to education. first, we visit the seed public charter school, the nation's first urban public boarding school. later, we meet some unlikely students who are getting a liberal arts college degree behind bars. and finally, we go to the harlem children's zone under the leadership of geoffrey canada. we begin with seed, one of the most successful and innovative charter schools in the country. it was start
's revenue sharing, it is economic development for the areas, the communities and cities where we operate, so it's not just about baseball teams. we continue to do well. >> thank you so much for joining us. a great pleasure having you on. >> likewise. >> linda alvarado, alvarado construction. >>> a sneak peek in the green room, packed this morning. they regularly talk on conference calls with the white house, consulting with the president on issues of vital economic performance. today, they consult with you our viewer on "squawk box." at 1:45, the aflac duck was brought in with multiple lacerations to the wing and a fractured beak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell phone? aflac, but i doubt he'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the aflac duck a get-well card at getwellduck.com. ♪ ♪ ♪ ♪
to fail, the sequester and how he missed the crisis at citi. >>> is it time to say good-bye to the u.s. airways brands? a deal looks close for amr's american to take it over, become the number one brand. does consolidation mean airlines just got more attractive. >>> we start off with the retailers, january report card, macy's posting an 11.7% jump in same-store saturday and raising guidance. stellar results from some of the retailers. >> such a mixed picture. some guys -- kohl's, people decided their clearance is moving the stock up nicely. gap strong happens moved. consistently great job. people talking about urban outfitters doing a great job, doesn't seem like the stocks right now are moving the way you would think they would. i don't know how many people are counting on this particular month -- >> a short month, bleedover from the holidays. the rate of beats, 59% is the strongest since august, which was 86%, thanks to mkm partners. the number of them that have outpaced expectations is pretty big, relative to everything else. >> this is historically the one month i don't care abou
of the holidays. i loved the games so much. shady brooks development. try city. well, maybe he has a 13 deal right now. i asked the ceo to bring these games back. the point is that the stocks and bonds is that stocks are fascinating enough. to get your kid started on them right now. when you have your kids started on stocks and bonds pick some stocks. they are performing in a good way, but if companies maybe your kids are familiar with. guess what they will do over a period of time. so here is the bottom line of my childhood stock market obsession. get them started early and maybe they will play for life. the stock market is a long-term contest and one i think the earlier you get in, okay, the more you can win. let's go to loretta in arizona. >> hi captain cramer a big booyah to you. >> love phoenix. >> okay what steps should an investor take when a company they thought was solid with a strong monthly dividend s sursuffsuffers a steep drop hold them or fold them? >> a lot of the monthly ones are oil related. free port a few years back cut the dividend. that of course is kp copper and gold. it can
that will have an impact "on the money." and is the city of new york city takeout in jeopardy? we look at the newest edition on michael bloomberg's list of banned substances. as we take a break, look at how the stock market ended the week. back in a moment. >>> for more on our show and our guests, check out the website otm.cnbc.com. i hope you'll follow me on twitter and google plus, look for me @mariabartiromo. >>> first, here's a look at the stories coming up in the week ahead that may move the markets and impact your money this week. >>> monday is president's day. stock market and banks are closed for the holiday. following that, earnings are out from walmart, hewlett-packard and dell computer. by the way, that could be the company's last earnings release before going private, that's dell. wednesday we'll find out the number of new residential units that began construction last month, as well as what happened behind closed doors at the last meeting of the federal reserve open market committee. the minutes from that meeting are out on wednesday. on thursday, realtors will report the
in boston. many cities are telling residents, don't travel if you don't have to. airlines are now warning the blizzard could cripple travel and hundreds of flights have already been canceled. we're going to check in one on friends at the weather channel. just a couple of minutes for their latest forecast. also in the news, the justice department in multiple states reportedly discussing suing moody's for defrauding investors. any move likely to make a similar rival against standard & poors is testing likely so this likely to be more than two years out. the goal is to get more battle on potentially hazard just flights, so these flights will only happens. now let's head across the country to joe and becky and see what they have coming up this morning. joe, how was your week on the course? >> yeah, i had only one day in the tournament and it was one of those days that i'm used to out here. >> it was beautiful weather. >> it was beautiful weather and i hit a lot of different kinds of shots. when a professional golfer says that, they mean they intentionally hit a a lot of different kinds of sho
for cablevision in a very long time. david, in the meantime, we want to call your attention to vatican city. pope benedict xvi stepping down after nearly eight years as pontiff after unexpectedly announcing his resignation on february 11th for health reasons. you can see him walking down the hall here. he's expected to depart vatican city by helicopter heading to castel gandolfo where he will take up temporary residence until his new residence outside of vatican city is complete. once he steps into the castel gandolfo, the doors will closed and it is complete. >> thousands of people stormed into st. peter's square to watch this happen. they put big screen televisions inside the vatican grounds for the public to watch what is happening. it's hard to get a vantage point of the scale if you've never been there but isn't that just an amazing thing to watch? >> and historic are, given that we haven't seen anything like this in 600 years, right? >> i wasn't there but obviously you were, david. eagerly checking the stocks. >> yes, i was. >> interesting this morning, cardinal dolan of new york was asked
>>> well, "the economist" is out with its list of most expensive cities in the world based on the price of everyday items. at number five, we have melbourne, australia, my hometown where, unfortunately, a loaf of bread there will set you back an average of $4.84. oslo, norway, very expensive city, a pack of smokes governments 15 bucked and number three, sydney, a bottle of table wine will cost you $25 which is a disgrace considering how much wine we produce and the runner up osaka, japan, where a dinner for four costs you $950. world's most expensive city, tokyo, loaf of bread, $9.60. >> thanks for watching "street signs," everybody. >> "closing bell" is next. >> hi, everybody. we enter the final stretch. welcome to the "closing bell." i'm embroemo at the new york stock exchange. this market trying to finish and retake that 14,000 level, not so fast. >> we're coming back here. i'm bill griffith. a see-saw day so far, the market's february volatility does continue and setting up to be an interesting final hour of trade, this being the most important hour of the day. as we've
york city's biggest sewage treatment plant. this is not a joke. the city says tickets for three-hour tours are nearly sold out and highlights include the giant egg-shaped receptacles. >> thanks for watching "street signs." history always repeats itself. "closing bell" is next. >>> hi, everybody. good afternoon. welcome to the "closing bell." i'm maria bartiromo here at the new york stock exchange. stocks mixed at this hour. the dow struggling to stay above the 14,000 level and the nasdaq modestly higher. >> just a reversal. >> i'm bill griffith. we'll see if the dow can rally back. we're at the lows of the day right now but also following these stories on today's ram. the ceo of dow component cisco will be with us. john chambers will join us moments after the company reports earnings. will the results move us closer or further away from a new high? plus a lot more to get into with the always outspoken john chambers. >> he's terrific and how is this for an odd couple. facebook founder and ceo mark zuckerberg having new jersey republican governor chris christie over to his house t
. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> here is a real sizzle story. facebook billionaire mark zuckerberg is hosting his first political fund-raiser tonight. guess who it's for? new jersey governor chris christie, out of the left coast with all of those silicon valley folks. who would have thunk it. julia is live outside his house. >> good evening. the security is already tight. we have helicopters overhead. everyone is getting ready for the big event when zuckerberg invites his friends to meet chris christie. christie is raising his profile as a bipartisan leader ahead of his 2016 prospective run for president. this led tozuckerberg's $100 million education grant, which he announced on oprah. >> the main thing that i have to do is find people who are going to be really great leaders and invest in them. that's what we're doing here. we're setting up a $100 million challenge grant. >> zuckerberg has been doubling down on education philanthropy since then. he and his wife donated 18 million facebook shares to th
declare bankruptcy like cities are trying to do. >> we'll look at that chapter 11. steve moore you're great. >>> now american ceo who bashed a french work ethic. we have that story and more from mary thompson who is coming up next. ♪ [ male announcer ] how do you engineer a true automotive breakthrough? ♪ you give it bold new styling, unsurpassed luxury and nearly 1,000 improvements. introducing the redesigned 2013 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. >>> key senators making immigration proposal that could affect you. cnbc's own mary thompson has that story and other top headlines. good evening. >> good evening. at least eight senators a bipartisan group are supporting a bill that could force every u.s. worker to carry a biometric i.d. card. it's for citizens and noncitizens proving you're eligible to work. they can use fingerprints or some other identifier and the goal is to prevent companies to hire illegal workers. some are worried about privacy. senators are open to hearing other ideas. more pressure
, and as you mentioned, i was just in new york city and these huge new york city companies like general electric and bank of america and philips they wanted to become customer companies. >> the reason i mentioned the bernstein thing, he says microsoft's coming along, oracle -- you in the talk i listened to said, oracle, ibm, microsoft, they're all really good at this now. wait a second, they all weren't really good when we first started talking. >> well, you've been right on, jim. and unfortunately, that bernstein analyst you quoted and i think this is what you want me to say. over the last one or two years now, he's been dead wrong. >> thank you. >> he doesn't realize the world has changed, the world has transformed, the world has evolved. we have moved into a new world of computing. who is carrying around a pc? who has windows anymore? this is a new world. we all have computers in our pockets. we're on to facebook, we're on twitter, the -- things are going more dynamic than ever before. and this is an exciting new world, but it's a treacherous world. because for companies, they have t
york city start with rain as we have two systems. one, a clipper across the midwest bringing detroit and michigan some snow but also the southern snow giving south some rain. they will come together an form a new storm, a nor'easter off-shore. as they do so we will plenty of wind, rain and snow and both storms mean business. let's put this in motion by friday evening. plenty of wind and rain and some wind gusts, 40, 50 miles per hour and some models that say these could be stronger than that. it is not just friday and friday night. new york city might start with rain. but crashing over hard to snow and the snow does not stop until sometime saturday for you. and this is slowing down into sunday. so saturday and sunday of additional snow. especially for new england. the bull's eye is here, so people are out of it. say philly, d.c. were you're out of this system in terms of heavy snow where the bull's eye is is the boston area. if we get behind the low side, that might be a foot of snow in boston. worst case scenario, perhaps three times that amount in the areas in and north and west of
an investor day in new york city today. shares are down. they are up almost 8% so far this year, down a half percent today. kayla tausche covering auction across the river in new york city. kayla. >> hey, tyler, well, jamie dimon in the hot seat. remember last week some shareholders called for that role to be split. we haven't heard from him on that point yet. we have heard about management change. lots of turnover, half the executives presenting today were in different roles last year. he begs to differ say too much change saying a lot are jpmorgan vets. the big news on cost cuts. that's why a lot of people looking at the stock down today. the bank is targeting $1 billion in cost cuts. among the ways they are going to get there, 4,000 net head count reductions. we should note they are going to be a lot of head count reductions over the next two years in the consumer banking unit. there could be as many as 19,000 jobs cut with the majority of those in the mortgage banking department as the mortgage environment improves here. that's not to say the consumer bank is shrinking. we heard from cha
a successful american business and wiped out thousands of jobs. >> i was educated here, wilmington city schools, and then at wilmington college. >> and now you're the mayor. >> and now i'm the mayor. there were 576 hourly employees. >> for months, mayor david raizk has been getting layoff notices. by federal law, companies have to notify local government when layoffs are coming, and raizk is getting a new letter from dhl every week or so adding a few hundred at a time to the growing list of lost jobs. >> it's got classifications and numbers on it, but there's not names and addresses and who their wife or their family or their children are, and so you look at these, and at the end of the day, you think, "that's 800 and some people, folks, live here, work here, you know?" >> the mayor told us one out of three households has a family member working at the air park. you are what people around here call an air park family. >> absolutely. >> angela and john peka are raising four children on two air park salaries. angela started at airborne express when she was 19. now as a supervisor, she walks laid-
failure. he was 88 years old. koch led new york city for 12 years, known for saving the city from financial ruin. michael bloomberg saying in a statement the city has lost an icon. a cheerleader, champion, 5,000-word oh bit in the "times" today, words like pugnacious, tenacious, outspoken. david, you know his story pretty well. he really did set the stage for giuliani to change the city. >> yeah, he was the consummate new yorker. of course, living in his apartment not far from here, in greenwich village for so many years. not everybody in the community, but many would say, our mayor. when he came into the office in '78, the city was at or near its nader. i can remember it well at that time, of course. and we did grow a great deal under his mayorality. not without some scandal, but certainly with a great deal of enthusiasm. in many ways he brought the spirit back and made you feel good about being a new yorker. which is not easy to do, when you had lived through the '70s. >> he passes on a day where a new biography, a film biography of him opens. something somebody said is the koch
with her? >> jon stewart ripped her to shreds. >> the point that's valid is we are big city folk. in the smaller, rural parts of the country and you can speak to the congressmen representing the districts the post office is the central meeting place. i have never been to these places. there is something going on there. i respect that. >> if you go on a listening tour. >> i should. >> you're making the right point. this point will come up later with the military. it's so widely distributed. everybody has an impact on this. we do live in big cities but people in kansas don't have the same relationship. >> shouldn't have to pay for that. >> you can't have everything you want in life. i have a number. $47 trillion. do you know what $47 trillion is? from the cbo, congressional budget office, that's u.s. federal spending for the next ten years. $47 trillion. okay? can we agree that's a big number? now the post office will add to that number. i think we should be subtracting from that number. i don't care what sentimentality or who claire mchaskill is. she shouldn't have run the race. s
turbines are now powering some of america's biggest cities. siemens. answers. >>> let's take a look at u.s. futures. the last time we checked in, the dow was set to open about 11 points at the open. it's peared back just a tad. the dow is still trying to climb back towards that 14,000 level, a time, ross, when frankly more people were talking about warning signs in the market. >>> meanwhile, as far as the european stocks were concerned, and this is where we stand, firmer today. the ibex down 0.3%. the cac 40, ftse and xetra dax up between 0.25% and 0.5%. dollar index is up, kelly. >> that's right. and the dollar/yen, adding 0.5%. so 93.17. aussie/dollar weaker by about 0.5%. a lot of trade across asia is quiet or closed for the lunar new year. >>> france's problems have nothing to do with a single curren currency, but down to the problems itself. he said that the core of the french problem lies inside the cup, not in the foreign exchange rate. this time last week, the french president called for the rights to curve the euro. >>> and the euro group meeting, which is due to star today in b
private partnership in the cayman islands. he happened to invest in partnerships when he was at citi, and they happened to be based there. >> in romney's case he set them up down there? >> no, he didn't. i was not making -- i never made the cayman islands argument to you ever. >> oh! about romney? >> i never did. go back and check the tapes. never. >> i don't think he ever did. >> i think -- >> i don't think he did. >> in general, just the whole perception. now al gore's got more money, a lot more money than romney, as you know. you think that's in the cayman islands? >> he's not filthy rich. no, that's somewhere safe, the lea -- the middle east. >> as the ocean washes across the country, it's safe, probably in gold. >>> in the markets, the futures are fight slightly higher. yesterday the dow was up by 47 point. the s&p up by two. as patty dawn points out, the nasdaq has been the big issue. it was actually down yesterday by five points. it has not closed above the 3,200 level that so many had been watching closely. some say in order to see the s&p 500 and the dow break out to new hig
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